$522 million Vinachem project to benefit economic growth in both countries.
Prime Minster Nguyen Tan Dung led a high-level delegation to attend several breaking ground ceremonies in Laos on September 13 at the invitation of Lao Prime Minister Thongsing Thammavong.
The two PMs attended the breaking ground ceremony for a salt mining and processing project of the Vietnam National Chemical Group (Vinachem) in Nongbok district, Khammouan province, which is one of the largest Vietnamese investments overseas.
On 10 sq km and with a capacity of 320,000 tonnes a year, Vinachem has already invested $105 million in the project out the total of $522 million. Upon completion it will resolve the shortage of potassium fertilizer in both Laos and Vietnam. The Lao PM emphasized that the project will contribute to accelerating the country’s socio-economic development.
PM Dung, meanwhile, said it was a key project in the plan for the development of Vietnam’s chemical industry. He expects it will have a major role in Laos’ economic development and benefit both countries.
On behalf of the Vietnamese Government he thanked the Lao Government and authorities in Khammouan province for providing the conditions necessary for Vietnamese enterprise to invest in central Laos. He also proposed the Lao Government allow Vinachem to expand its project to maintain inputs and provide favorable conditions to Vietnamese workers, experts and machinery.